25 November 2019 - High Temperature Coatings Market was
valued USD 3.27 billion in 2015 and is anticipated to achieve moderate growth
globally over the forecast period. The demand for the market is increasing
steadily owing to the growth of numerous end-use industries such as cookware
and bake ware, construction, and metal processing.
High temperature coatings material can withstand a
temperature of more than 150°C (302°F) while protecting against corrosion.
Depending upon the level of temperature resistance required, coatings are
composed of organic or inorganic materials such as epoxy, epoxy novolac,
silicone, and epoxy phenolic. Fire proofing plays a vital part in buildings and
other structures as it protects structured steel and other building parts.
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The acrylic coating was the largest product segment covering
over 20% of total demand in 2015. Aesthetic looks coupled with high heat
resistance property makes it an ideal technology that can be used in building
and transportation infrastructure. Low volatile organic compound (VOC) presence
in formulation has led its rapid adaptation in various industrial activity.
Physical properties of Polyethersulfone (PES) such as
adhesiveness, long run thermal stability and transparency are expected to be
responsible for its growth over the forecast period. Owing to these features,
the product usage is found in a broad range of applications including
automotive refinishing, wood furniture, construction, and marine. Global PES
high temperature coatings market value is estimated to exceed USD 470 million
by 2024.
Compatibility of Epoxy coatings with a broad range of color
and solvent free ingredients has contributed to its demand in 2015.
Characteristics such as high durability and chemical resistant are anticipated
to be the major factors for the growth of this segment.
The segment is expected to grow at a CAGR of over 4.0% from
2016 to 2024. Epoxy-based products find enhanced usage in corrosion resistant
applications in automobiles, boats, steel pipes, and transmission pipelines
that are exposed to high temperature environment.
Technology
Insights
The liquid-based technology was the largest technology
segment in 2015 which accounted for over 75%. The industrial trend is shifting
towards non-solvent based technologies with the adoption of waterborne and
powder based products in various sectors.
With minimum environmental impact due to low VOC content,
surging demand for effective products is anticipated to drive waterborne high
temperature coatings demand over the next eight years.
Market Segment:
Global High Temperature
Coatings Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
• Epoxy
• Silicone
•
Polyethersulfone
• Polyester
• Acrylic
• Alkyd
• Others
Global High
Temperature Coatings Technology Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2024)
• Solvent
borne
• Waterborne
• Powder
Global High
Temperature Coatings End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2024)
• Energy &
Power
• Metal
processing
• Cookware
appliances
• Stoves &
grills
• Marine
• Automotive
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Asia Pacific was the largest market and accounted for more
than 35% of total volume in 2015. Steady growth in automotive &
construction sectors especially in India, China, and Japan is anticipated to
drive the demand in the region. European coatings accounted for more than 30%
of the market in 2015 globally.
However, slow growth observed for numerous end-user such as
aerospace, construction, and oil & gas, in the European region is
anticipated to obstruct market and consequently, lose their share in the industry
over the forecast period.
North America high temperature coatings market is
anticipated to grow at a CAGR of 4.0% from 2015 to 2024. Increasing application
of these products in major end-use industries including electronics,
automobile, energy, and construction sectors have contributed significantly to
the growth in this region. Renewal of reforms to incorporate thermally
efficient materials and environment-friendly materials are expected to play a
major role in steering product demand in the region.
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